APR 28 GBP/USD and EUR/USD Plan

[sarath]

Here is my plan for the tonight, bit aggressive buying plan compared to the report we got Tuesday.

Looking at the News Driver in the report, Euro has some action before the FOMC. I would tread with caution on the Euro

GBP/USD

Plan A:

Buy: 1.4685
Stop Loss: 1.4635 (50 pips)
TP1: 1.4725
TP2: 1.4765
TP3: GT to be monitored

Plan B:

Sell: 1.4550
TP1: 1.4515
TP2: 1.4475
TP3: GT (to be monitored)

EUR/USD

Plan A:

Buy: 1.3155
SL: 1.3115 (40 pips)
TP1: 1.3200
TP2: 1.3240 (below M4)
TP3: GT

Plan B:

Sell: 1.3085 (below Pivot)
SL: 1.3135 (50 pips)
TP1: 1.3060 (above M2)
TP2: 1.3010
TP3 - GT

Any other ideas, please share.

sarath

E,P, Canadian

[Goshen]

I have been extremely busy in the last few days trying to complete the tax returns of my clients before the April 30th deadline, and also struggling with concluding the quarterly report of the company I consult for, before the auditors review them. But this is my passion and dream.

I am sticking with Joe's recommendation but do like Sarath's agression. I have been watching both the Euro & Cable and waiting for them to fail at the 3200 & 4700 levels to go short, as Euro has made 2 failed attempts to go beyond 3213 while Cable has made 4 attempts at 4700 and only going over twice.

EUR/USD
Plan A
Sell @ 1.3177 (one pip above key #)
Stop @ 1.3206
TP1 @ 1.3133 (another key #)
TP2 @ 1.3088 (pivot #)
GT - will trail by 40 pips

Plan B
Buy @ 1.3205
Stop @ 1.3176
TP1 @ 1.3235
TP2 @ 1.3290 (R2 # a critical point of possible bounce)
GT - will trail by 40 pips


GBP/USD
Plan A
Sell @ 1.4693 (trade in progress)
Stop @ 1.4730 (one pip above key #)
TP1 @ 1.4657
TP2 @ 1.4607 (a prominent key # that has repeatedly been hit)
GT - will trail by 40 pips

Plan B
Buy @ 1.4731
Stop @ 1.4691 (ST21 Hi)
TP1 @ 1.4757
TP2 @ 1.4802 (Key #)
GT - will trail by 40 pips

George Olu
All the majors; Lonnie & EUR/JPY

[schuon]

I posted a question on how to setup trade. After some considerations and having read the two posts above, I decided to hit the button.

EUR/USD
Entry 1.3193
Stop Loss 1.3170
TP1 1.3259
TP2 1.3310

So far, I'm on the positive end :D but I still don't fully understand what I am doing yet. Will need as much helps as I can possibly can.

[sarath]

Both TP1 and TP2 reached for Euro and Pound. I am letting the last lot run and not decided whether to close them before FOMC rate decision or let it run.

I am also leaving the sell orders intact to catch a surprise downtrend . .

Good Luck

sarath

E,P,Canadian

[juyo]

As I am new to this I am finding that I am just beginning to get the gist of the daily routine, however as I am in UK and 5 hours ahead of you I missed the trade on the GBP/USD this morning. I looked for the Daily report last night before I went to bed, however it was not on the site, when I got up this morning the trade was well underway.

What time are the Daily Reports put up on the web can anyone tell me? looks like I will have some late nights.

Julie York GBP/USD

[sarath]

Julie

It gets posted between 7 - 8PM (Eastern Time) which is just after midnight your time.

Place orders based on the channel breakout covering both a Buy and a Sell. This way you don't need to stress out watching for the report to come . .

Overnight action does take place, at the same time it is common for pairs to move in the morning (your time).

sarath

E,P, Canadian, JPY crosses

[schuon]

Hi Sarath,

Could you please explain the following:

"Place orders based on the channel breakout covering both a Buy and a Sell."

I have this problem too where I get stress out.

[sarath]

Hi

This is an extract from Joe's Sunday report below to help you understand the channel numbers and how to place both a Buy and a Sell Order. I have retained only the channel numbers for clarity . .

Pair:
EUR/USD for Sunday May 3rd, 2009

Breakout channel
1.3728 to 1.3072
Current wide channel
1.3480 to 1.3072
Compressed channel
1.3329 to 1.3233

Potential Trade Recommendations
Buy Break 1.3329 and clear 1.3359
If Pair moves above 1.3300 to 1.3329 & reverses Sell Break 1.3291 and clear 1.3260
Sell Break of 1.3177 and clear 1.3133

Hence, place a Buy order > 1.3359 and a Sell Order < 1.3133.

If you are experienced follow the 1.3329 and 1.3177 Nos.
Sarath

E, P, Canadian, JPY Crosses

[rfredcpt]

Good Job, Sarath.